Sunday, March 1, 2015

Greece, Creditors, and the IMF

SF remarked that Greece’s grandmother may be looking peaked again. It had been less than a week since Greece worked out this year’s deal to fend off its creditors.

Here’s a podcast from NPR’s Morning Edition from 3 years ago, discussing how Greece will find a way to pay back the IMF first.

No matter what Greece says now, it will probably find a way to pay back the IMF. Think about it this way: even Argentina paid back the IMF (even if they did it 3 years too late). Basically, member countries treat the IMF like a charity: you don’t steal from them, and you make sure they get paid.